Pay rise for boss of Ford despite shortfalls


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The Independent Online

Ford hiked its chief executive's pay package by 11 per cent last year to $29.5m (£18m), even though the US car giant fell short on some key company targets.

Since Alan Mulally took the helm in 2006, he has led the car maker's turnaround, steering it through the US economic crisis without resorting to a federal bail-out like its Detroit rivals GM and Chrysler. Ford posted its best profits in more than a decade for 2011.